gosouth, they said funds were received 'yesterday' ie 5th July, so it doesn't form part of FUM as at 30 June, at least that's how I read it.
Working backwards, FUM as at 30 June was around $2,133 and adding this new mandate on takes FUM as at 5 July to $2,261m
My main concern is the pathetic profit in H2, down on H1 despite average FUM being approx 15% higher in H2. I understand they guided to higher staff costs but the extra average FUM in H2 should have boosted revenue by $2.1m in H2. Yet profit will be down, that's some increase in costs in a 6 month period
So despite the great FUM growth I don't have a lot of faith at the moment, reflected in my holding size
AEF Price at posting:
$95.00 Sentiment: None Disclosure: Held
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